Diezani Alison-Madueke: accused robbing Nigeria in oil deal
The Indian High Commissioner to Nigeria, Ajjampur R. Ghanashyam, has revealed the dubious practice by former Minister of Petroleum Resources, Diezani Allison Madueke in selling crude to India through intermediaries, thus denying Nigeria’s treasury of the full proceed.
India is now Nigeria’s number one crude buyer, an importation that grosses $15 billion yearly.
But under Diezani Alison-Madueke, commission agents creamed away some of the billions, when Nigeria’s treasury ought to have enjoyed the full benefit. Nigeria is the only oil producing nation selling its oil this way. Other nations make the sale, country-country.
“From other countries, when we buy oil, whatever we want to pay, we pay to the Ministry of Finance of that country. In Nigeria, we pay to intermediaries. We would like to be dealing directly with the Nigeria National Petroleum Corporation (NNPC). It’s not a good thing. Why should we go through intermediaries?
“Secondly, we would also like to have long term agreement, which we have with many countries: Iran, Iraq, Saudi Arabia, and other countries from where we buy oil. Nigeria is the only country with whom we don’t have an agreement. .. When we write a letter to NNPC, we don’t get a response,” Ghanashyam told Nigeria’s newspaper, Daily Trust.
The newspaper quoting NNPC 2014 Annual Statistical Bulletin reported that India bought 136,419,844 barrels of crude oil from Nigeria. The relationship continues.
The Indian High Commissioner added that apart from the lack of long-term agreement between the two countries on crude oil purchases, in 2006, an Indian company, Oil & Natural Gas Commission Videsh Limited (OVL) and Mittal Energy International, which is a joint venture between OVL, an Indian government company, and Mittal Energy a private firm, applied for oil concession. The Signature bonus sum of $25 …Read More
Source:: PM Newspaper